China 

China to collect applications for scrap metal import licences from next month, trade group says

Chinese authorities will start accepting applications for licences to import unspecified quantities of soon to be restricted types of scrap metal from late May, the recycling branch of the China Non-ferrous Metals Industry Association said.The world’s top metals consumer has been clamping down on scrap imports as part of a campaign against foreign solid waste, leaving overseas scrap exporters scrambling to find other markets.Imports of low-grade copper scrap such as coiled cable and waste… Source link

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China 

What kind of stimulus do China’s half-idle car assemblies need to restart stalled sales in the world’s largest vehicle market?

Word got around last week – while the Auto Shanghai 2019 trade show was in full swing – that China’s economic planning agency was mulling an easier process for drivers to obtain licences in the world’s largest vehicle market.The speculation sent the share prices of carmakers soaring, on hopes that the liberalised procedure would spur drivers to become owners, help clear out showrooms and stem nine consecutive months of declining sales. At least three automotive stocks jumped by their 10 per… Source link

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China 

China’s economic growth unable to boost employment as job market drops to six-year low, says think tank

Despite better-than-expected economic growth in the first quarter, China’s job market performed at its worst level in six years at the start of 2019, according to an industry report published on Friday.The number of jobs seekers normally rises during January to March when many workers look to change jobs and college graduates start looking for career opportunities after their graduation. However, in the first quarter, the number of potential applicants rose to the highest level since 2011 while… Source link

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China 

Why is global investors’ fossil fuel divestment not having the desired effect on China’s carbon emissions?

Western institutional investors who have joined the coal divestment movement are finding it difficult to pressure Chinese companies to reduce their carbon footprint despite Beijing’s commitment to the Paris Agreement.Analysts say there are two main reasons for this: China is yet to implement plans to cap carbon emissions and, more importantly, Chinese miners and power producers do not rely on foreign funding.The Paris accord sets out a global action plan to reduce greenhouse emissions and put… Source link

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China 

Singapore’s sovereign wealth fund GIC and Chinese mall operator Grandjoy to kick off China’s first listed real estate trust

Singaporean sovereign wealth fund GIC and its long-term Chinese ally, the mall operator Grandjoy Holdings Group, have been selected for a pilot programme that will allow individual Chinese investors to buy shares in rent-yielding properties for the first time.Grandjoy, the property arm of state-owned conglomerate Cofco, was picked by the securities regulator as one of several firms to try China’s first publicly listed real estate investment trust (Reit), its chief financial officer, Xu Hanping,… Source link

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China 

China expected to resume role as driver for global economy, BlackRock says

China’s economy, a drag on global growth last year because of a domestic slowdown, is expected to grow more quickly in the second quarter to become the key economic driver for the world, research by BlackRock shows.More expansive fiscal and monetary policies by Beijing have started to show results that may help to reverse a slowdown that has hit Europe and emerging markets particularly hard, researchers at BlackRock Investment Institute, the research unit for BlackRock Inc, said in Thursday’s… Source link

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China 

Taiwan presidential run by Terry Gou creates ‘uncertain’ future for Foxconn, analysts say

Foxconn chairman Terry Gou’s decision to make a run for Taiwan’s presidency creates “uncertainty” for the world’s largest iPhone assembler, and could threaten Apple’s long term relationship with the company, analysts said.The 68-year-old Gou, Taiwan’s richest man with a net worth of US$7.6 billion, said on Wednesday that he would take part in the opposition Kuomintang’s (KMT) primaries for the 2020 race to challenge current president Tsai Ing-wen.In a statement, Foxconn said that Gou wished to … Source link

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China 

China’s social credit system stops the sale of over 26 million plane and train tickets

China has restricted the sale of 20.47 million plane tickets and 5.71 million high-speed train tickets as punishment for failing to repay debts or conducting other “untrustful” behaviour, according to data from National Development and Reform Commission.Millions of individuals and businesses have been labelled as untrustworthy on a growing blacklist compiled by China’s courts, banning or restricting them from any number of activities, including accessing financial markets or travelling by air… Source link

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China 

China consumer spending ‘not fully recovered’ from US-China trade war despite improving sentiment

Chinese consumer spending “stabilised but has not fully recovered” in the first quarter of the year even though overall economic growth was stronger than expected due to Beijing’s stimulus measures, according to a China investment strategist and former US diplomat.The nominal growth rate of household consumption actually slowed further to 7.3 per cent, down from 8.0 per cent in the fourth quarter and 7.6 per cent in the first quarter a year ago.But gross domestic product, fixed asset investment… Source link

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China 

FCC set to block China Mobile bid to provide US services, marking another hot spot in trade war

Federal Communications Commission chairman Ajit Pai said on Wednesday he opposes China Mobile’s bid to provide US telecommunications services, citing security risks, and said the commission will vote on whether to deny the company’s application in May.China Mobile is seeking approval to provide services for phone calls between the United States and other countries. It is not seeking approval to provide wireless services to US consumers.According to the FCC, China Mobile USA, which filed the… Source link

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